No one has mentioned this but, the real key, as to whether you can overhaul your engine, is how much taper it has at the top of the ring travel and before you can decide on that, you'll have to measure the cylinders at that point.
For me, .005, is to much. Your ring gap opens about .015 for .005 taper. I wouldn't want more than .030 gap, on a overhaul.